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Chrysler shares up after car maker reports second straight year of profits

By: admin Published: October 13, 2021

The second quarter of 2017 was a bit of a letdown for American automaker Chrysler.

The automaker reported a loss of $8 billion, or 7 cents a share, and was the subject of several investigations.

But the company was able to push through a series of investments and expansions, including a $1.5 billion deal to buy a controlling stake in the Japanese carmaker Nissan Motor.

Chrysler, which has been trying to sell itself to Asian investors, is still looking for ways to turn the fortunes around.

Chrysler shares jumped 6% to $46.60 in after-hours trading Thursday, up 11.4% in after hours trading last year.

In 2017, Chrysler sold more than $1 trillion of vehicles, making it the third-largest automaker behind General Motors and Ford.

Analysts said that was the best year for sales in the company’s 70-year history.

But Chrysler’s shares have been volatile in recent years.

The company has been struggling with a $17 billion debt load that is nearly double the size of its profits in 2017.

And while its earnings rose a bit last year, the carmaker was still unable to generate enough revenue to make up the difference.

Chrysler is still struggling to sell more vehicles and keep up with its debt obligations.

In February, the company reported a $3 billion loss on $24.3 billion in sales, and a $5.6 billion loss a year earlier.

That left the automaker with $20.4 billion in debt and $24 billion in unfunded pension obligations.

Chrysler plans to pay off that debt this year.

Chrysler will have to sell some of its U.S. assets to make that happen.

But a new deal could help the automaking giant get back on track.

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